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CHANGE OF MORTGAGE - confused
gbr_2
Posts: 1 Newbie
HI, my mortgage is 1.5 over eurobore (calculated monthly) and with intereset only for another 5 year. Its a revolving credit mortgage.
The same bank has come back, after i have explained i need help and said that they can give me a normal interest product for 5 years, but
with 0.5 over eurobore calculated monthly again. This is great but they said that the costs of cancelling old and setting up new is approx 10k euros? This i have checked to be the true as the propeperty is in Spain and the notary and admin charges here are high?
so my mortgage debt will go from 245,000 to 255,000 (but they will provide the provision of costs within the new debt)...
do you think i should take the new offer or will the interest on the new costs be pointless..!!??? oh, they both have 25 yr repaymnet plan afterwards...
appreciate your opinion on this...
gbr
The same bank has come back, after i have explained i need help and said that they can give me a normal interest product for 5 years, but
with 0.5 over eurobore calculated monthly again. This is great but they said that the costs of cancelling old and setting up new is approx 10k euros? This i have checked to be the true as the propeperty is in Spain and the notary and admin charges here are high?
so my mortgage debt will go from 245,000 to 255,000 (but they will provide the provision of costs within the new debt)...
do you think i should take the new offer or will the interest on the new costs be pointless..!!??? oh, they both have 25 yr repaymnet plan afterwards...
appreciate your opinion on this...
gbr
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